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Sun Apr 22, 2012, 07:00 PM

 

BUSTED: Walmart Caught In Huge Bribery Scandal -- Senior Management Knew About It And Tried To Cover

http://www.businessinsider.com/walmart-bribery-scandal-2012-4

Walmart de Mexico, a highly successful business for Walmart (1/5th of Walmart's stores worldwide are in Mexico), systematically bribed Mexican government officials for years.

The bribes, which may have totaled more than $24 million, were paid to win permission to open new stories vastly more quickly than would have been possible had the company adhered to Mexican laws.

The bribes were initially hidden from Walmart's global headquarters in Bentonville, Arkansas, by disguising them as normal legal bills (a.k.a., accounting fraud).

11 replies, 1679 views

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Always highlight: 10 newest replies | Replies posted after I mark a forum
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Arrow 11 replies Author Time Post
Reply BUSTED: Walmart Caught In Huge Bribery Scandal -- Senior Management Knew About It And Tried To Cover (Original post)
Fire Walk With Me Apr 2012 OP
Botany Apr 2012 #1
greytdemocrat Apr 2012 #2
Botany Apr 2012 #3
greytdemocrat Apr 2012 #4
just1voice Apr 2012 #9
Botany Apr 2012 #10
Spazito Apr 2012 #5
mindwalker_i Apr 2012 #6
C_U_L8R Apr 2012 #7
kwassa Apr 2012 #8
Prometheus Bound Apr 2012 #11

Response to Fire Walk With Me (Original post)

Sun Apr 22, 2012, 07:33 PM

1. I am no fan of Walmart but ....

... in many parts of the world bribery is the way business gets done.

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Response to Botany (Reply #1)

Sun Apr 22, 2012, 07:39 PM

2. That is true...

But from what I read in the paper this morning it went far beyond that. The home office in the US was told about this and it was covered up and promotions given.

It just makes me shake my head how these Wal-Mart Corp. clowns thought they could hide this. The ones connected with this should at least be canned.

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Response to greytdemocrat (Reply #2)

Sun Apr 22, 2012, 08:37 PM

3. "The ones connected with this should at least be canned."

Oh I am sure they will be dealt w/ harshly. Do I need to add this?

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Response to Botany (Reply #3)

Sun Apr 22, 2012, 08:52 PM

4. Heh!

They only get half their stock options.

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Response to Botany (Reply #1)

Mon Apr 23, 2012, 05:42 PM

9. So you fully support criminal corporations because corruption is "the way it's done"

 

That mindset is the very reason America is no better than any other corrupt country. That's the same argument used for torture BTW.

Disgusting.

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Response to just1voice (Reply #9)

Mon Apr 23, 2012, 09:35 PM

10. how the hell did you get what you write from my post?

<So you fully support criminal corporations because corruption is "the way it's done.">

please you know nothing about me, what I have done, my values, or what I have seen
and or learned during my time on terra firma

<That mindset is the very reason America is no better than any other corrupt country. That's the same
argument used for torture BTW.>

please America for all of it's faults is worlds better as a place to live then lots of other
places in the world. Bribery and graft are common place in many places around the world ....
Go to many places around the world and sit at a border crossing as the locals check your pass-
port and such to gain admission to their country and see what happens when you give them cash.

Your posting is a perfect stereotype for the fuzzy headed liberal w/out real world knowledge.

I have put my ass on the line and I have worked for liberal and progressive causes many times
in my life and I don't expect thanx but your post really pisses me off.




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Response to Fire Walk With Me (Original post)

Sun Apr 22, 2012, 09:02 PM

5. Yes, it looks like they have violated the...

Foreign Corrupt Practices Act under which it is illegal for U.S. corporations and their subsidiaries to bribe foreign officials.

The cover-up they attempted is going to make it harder for them to get away with the kind of scapegoating of lower echelon employees that normally happens, imo.

"Walmart's then-CEO, H. Lee Scott, Jr., was briefed on the investigation. He reportedly rebuked the company's investigators for being too aggressive.

Walmart's current CEO, Michael Duke, was chairman of Walmart International at the time of the scandal. He received frequent briefings about the bribery allegations and progress of the investigation."


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Response to Fire Walk With Me (Original post)

Sun Apr 22, 2012, 09:59 PM

6. Shit, get Walmart in the Senate, now!

They know how the game is played.

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Response to Fire Walk With Me (Original post)

Sun Apr 22, 2012, 10:28 PM

7. Looks like Romney's son and donors are mixed up in this

Is anyone surprised?

A partner in the private equity firm founded by Mitt Romney’s oldest son and Romney’s chief fund-raiser has been linked to attempts to cover up an alleged bribery scheme by Walmart executives in Mexico.

H. Lee Scott Jr., an operating partner at Solamere Capital, helped shut down an internal investigation of rampant bribery in Mexico when he was Walmart’s chief executive in 2005, according to a New York Times report.

Solamere Capital was founded in 2008 by Taggart Romney, Spencer Zwick, Mitt Romney’s national fund-raising chairman, and Eric Scheuermann. The firm’s investors include Romney campaign donors, and Mitt Romney, himself, was the first to buy in — with a $10 million investment.




http://www.boston.com/Boston/politicalintelligence/2012/04/report-ties-partner-firm-founded-mitt-romney-son-possible-walmart-coverup/dt17aYp1tqdU2t491xjsYJ/index.html

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Response to Fire Walk With Me (Original post)

Sun Apr 22, 2012, 11:11 PM

8. This is a very big deal, read the original investigative article in today's NYTimes

which is where I read it.

Smoking guns everywhere.

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Response to Fire Walk With Me (Original post)

Mon Apr 23, 2012, 09:39 PM

11. Walmart is worth $10 billion less today than on Friday because of this.

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